Tag Archives: risk adjusted return
Bringing Down the House – What Blackjack can teach us about investing.
If you have read the book “Bringing Down the House” by Ben Mezrich or seen the movie “21” based on the book, then you are at least familiar with the system employed by a team of MIT students to beat the game of blackjack. For those that have not seen the movie, the system is simple. You have players sitting […]
Bill Ackman-Style Investing: Know that you can’t know the unknowable
The 3Q08 Pershing Square letter, written by portfolio manager Bill Ackman, is a great example of the salient decision making that good fundamental managers employ. They strive to eliminate unanswerable questions as not to distract the firm from their ultimate goal; profiting from fundamental research. “We spend little time trying to outguess market prognosticators about the short-term future of the […]